BioTelemetry Inc (BEAT) Receives Consensus Rating of “Buy” from Brokerages

BioTelemetry Inc (NASDAQ:BEAT) has been given an average rating of “Buy” by the nine brokerages that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $61.17.

A number of analysts have weighed in on the company. BidaskClub upgraded BioTelemetry from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 23rd. Raymond James reduced their target price on BioTelemetry from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 31st. Finally, SunTrust Banks increased their target price on BioTelemetry to $67.00 and gave the stock a “buy” rating in a research note on Friday, August 31st.

Shares of BEAT opened at $64.54 on Tuesday. The company has a quick ratio of 2.50, a current ratio of 2.68 and a debt-to-equity ratio of 0.66. BioTelemetry has a 52-week low of $28.85 and a 52-week high of $74.73. The firm has a market capitalization of $2.15 billion, a P/E ratio of 37.96, a P/E/G ratio of 3.58 and a beta of 1.58.

BioTelemetry (NASDAQ:BEAT) last released its earnings results on Tuesday, October 30th. The medical research company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. BioTelemetry had a return on equity of 22.56% and a net margin of 4.34%. The business had revenue of $100.00 million for the quarter, compared to analyst estimates of $97.89 million. During the same quarter last year, the firm posted $0.16 earnings per share. The business’s revenue was up 23.5% compared to the same quarter last year. On average, sell-side analysts anticipate that BioTelemetry will post 1.81 earnings per share for the current fiscal year.

In other news, Director Robert J. Rubin sold 8,489 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $60.36, for a total transaction of $512,396.04. Following the transaction, the director now owns 140,040 shares in the company, valued at $8,452,814.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Peter Ferola sold 75,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $60.61, for a total value of $4,545,750.00. Following the transaction, the senior vice president now owns 90,065 shares in the company, valued at approximately $5,458,839.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 174,852 shares of company stock worth $10,995,097. Insiders own 8.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Spectrum Management Group Inc. purchased a new position in shares of BioTelemetry during the third quarter valued at $115,000. SG Americas Securities LLC purchased a new position in shares of BioTelemetry during the third quarter valued at $145,000. IFP Advisors Inc increased its stake in shares of BioTelemetry by 163.0% during the third quarter. IFP Advisors Inc now owns 2,927 shares of the medical research company’s stock valued at $189,000 after buying an additional 1,814 shares during the period. OppenheimerFunds Inc. purchased a new position in shares of BioTelemetry during the second quarter valued at $205,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of BioTelemetry during the third quarter valued at $211,000. Hedge funds and other institutional investors own 88.94% of the company’s stock.

About BioTelemetry

BioTelemetry, Inc, a mobile and wireless medical technology company, provides cardiac and mobile blood glucose monitoring (BGM), centralized medical imaging, and original equipment manufacturing services for the healthcare and clinical research industries. It operates in three segments: Healthcare, Research, and Technology.

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Analyst Recommendations for BioTelemetry (NASDAQ:BEAT)

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